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Group performance review and outlook

Audited summarised consolidated annual financial statements

Statement of changes in equity
for the year ended 30 June 2014

  Share  
capital  
Rm  
Share  
premium  
Rm  
Total  
share  
capital  
and  
premium  
Rm  
Foreign  
currency  
translation  
reserve*
Rm  
Available-  
for-sale  
fair value  
reserve  
Rm  
Equity-  
accounted  
investments  
reserve  
Rm  
Equity-  
settled  
share-based  
payment  
reserve  
Rm  
Insurance  
reserve  
Rm  
Total  
other  
reserves  
Rm  
Retained  
earnings  
Rm  
Total  
attributable  
to equity-  
holders of  
the parent  
Rm  
Non-  
con-  
trolling  
interest  
Rm  
Total  
equity  
Rm  
Opening balance as previously reported   19   1 416   1 435   546   —   —   —   56   602   10 864   12 901   10   12 911  
Adoption of new IFRS 10 accounting standard (refer to note 3: New accounting standards and interpretations adopted, changes in accounting policies and other reclassifications —   —   —   —   —   —   —   (56)  (56)  56   —   —   —  
Balance at 1 July 2012 as restated   19   1 416   1 435   546   —   —   —   —   546   10 920   12 901   10   12 911  
Earnings for the period   —   —   —   —   —   —   —   —   —   466   466   (7)  459  
Other comprehensive earnings for the period
(net of taxation) 
—   —   —   195   —   —   —   —   195   —   195   1   196  
Total comprehensive earnings for the period   —   —   —   195   —   —   —   —   195   466   661   (6)  655  
Movement in treasury shares   —   (47)  (47)  —   —   —   21   —   21   —   (26)  —   (26) 
Transfer between reserves   —   —   —   (14)  —   —   —   —   (14)  14   —   —   —  
Business combination – acquisition of subsidiary   —   —   —   —   —   —   —   —   —   —   —   9   9  
Dividends paid**   —   —   —   —   —   —   —   —   —   (241)  (241)  (1)  (242) 
Total contributions and distributions recognised directly in equity   —   (47)  (47)  (14)  —   —   21   —   7   (227)  (267)  8   (259) 
Balance at 1 July 2013 restated   19   1 369   1 388   727   —   —   21   —   748   11 159   13 295   12   13 307  
Earnings for the period   —   —   —   —   —   —   —   —   —   (381)  (381)  5   (376) 
Other comprehensive earnings for the period
(net of taxation) 
—   —   —   402   93   (28)  —   —   467   —   467   —   467  
Total comprehensive earnings for the period   —   —   —   402   93   (28)  —   —   467   (381)  86   5   91  
Movement in treasury shares   —   (1)  (1)  —   —   ­—   5   —   5   —   4   —   4  
Issue of shares to BEE consortium***   1   620   621   —   —   —   —   —   —   (621)  —   —   —  
Dividends paid   —   —   —   —   —   —   —   —   —   —   —   (6)  (6) 
Total contributions and distributions recognised directly in equity   1   619   620   —   —   —   5   —   5   (621)  4   (6)  (2) 
Balance at 30 June 2014   20   1 988   2 008   1 129   93   (28)  26   —   1 220   10 157   13 385   11   13 396  
*  The foreign currency translation reserve represents the net movement for all the translation movements between the presentational currency of South African rand, and the various functional currencies that the subsidiaries and other joint operations operate in.
**  The final dividend of 2012.
***  The issue of 26 832 834 shares was recorded at fair value of the consideration given, being the closing share price at the date of issue on 30 June 2014.